INTERCONTINENTAL EXCHANGE, INC. v. SEC

No. 20-1470.

23 F.4th 1013 (2022)

INTERCONTINENTAL EXCHANGE, INC., et al., Petitioners v. SECURITIES AND EXCHANGE COMMISSION, Respondent.

United States Court of Appeals, District of Columbia Circuit.

Decided January 21, 2022.


Attorney(s) appearing for the Case

Kelly P. Dunbar argued the cause for petitioners. With him on the briefs was Amy Lishinski .

Jeffrey A. Berger , Senior Litigation Counsel, Securities and Exchange Commission, argued the cause for respondent. With him on the brief were Michael A. Conley , Acting General Counsel, and Tracey A. Hardin , Assistant General Counsel.

Keith Bradley was on the brief for amicus curiae Bloomberg L.P. in support of respondent.

James A. Brigagliano and Eric D. McArthur were on the brief for amici curiae McKay Brothers LLC, et al. in support of respondent.

Jason M. Halper was on the brief for amici curiae Securities Industry and Financial Markets Association and FIA Principal Traders Group in support of respondent.

Before: Katsas and Walker, Circuit Judges, and Ginsburg, Senior Circuit Judge.


Five registered national securities exchanges filed proposed rules with the Securities and Exchange Commission to establish fee schedules for two wireless services: Wireless Bandwidth Connections, which connect a customer's equipment located on the premises of a petitioner exchange with the customer's equipment located...

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